Just this week we read about Blue Nile selling a $300,000 diamond, and over a smartphone. We wondered about its size and qualifications - just curiosity - but the sale itself came as no surprise. Blue Nile has been working the loose diamond business now for years, and has amply proved that these nearly commoditized objects are well suited to Internet selling. After all, can anyone name a company that sells diamonds that went from zero sales to $300 million plus in a handful of years. Still, there are retailers who think the whole thing is a sham and a lie. I read the comments that appeared on JCK's web site, and was shaking my head over those that came from "deniers." Oh, they said, this was a marketing stunt, there was no such sale, and certainly not on a smartphone. How could anyone buy a stone that expensive without looking at it. One retailer suggested that the buyer got a retailer to bring the stone in, learn all about it, and then bough...
Observations on trends and events in the gem and fine jewelry business.